Dear Cobo Users,

To further enhance transaction security and safeguard your assets, Cobo Portal Custodial Wallets will soon introduce stricter risk control rules. This upgrade will optimize the security verification mechanisms during withdrawal processes, covering a wide range of transaction scenarios to ensure the utmost security for your assets. Below are the details of the risk control adjustments:

1、Scope of Application

Product: Cobo Portal Custodial Wallets

Effective Date: January 2, 2025

2、New Default Risk Control Rules

1.For single withdrawal transactions valued over 4.3 million USD:

Approval Requirement: Requires approvals from two members with an Admin or Approver role. Both members must approve the transaction for it to proceed.

2.For single withdrawal transactions valued over 300,000 USD:

Approval Requirement: Requires approval from one member with an Admin or Approver role.

3. Special Instructions

For the above two default risk control rules, please note the following:

1.Withdrawals initiated via the web interface: The approver must not be the same individual as the withdrawal initiator. For example, for transactions exceeding 300,000 USD, the organization account must include at least two members with different roles: one Spender and one Admin or Approver.

2.If the number of qualified team members is less than the required number of approvers, transactions triggering these rules will be rejected. The transaction must be re-initiated after meeting the required approval conditions.

3.These two risk control rules are default settings generated by the Cobo Portal risk control system, have the highest priority, and cannot be edited or adjusted.

Cobo remains committed to the principle of secure custody. This adjustment to the risk control rules is designed to provide better protection for your assets and ensure the safety of your funds.

If you have any questions, please feel free to contact us. Thank you for your understanding and support!

Cobo Support
December 26, 2024